Topic: ⚜️⚜️⚜️⚜️ Edgeless - World‘s First Ethereum Based Crypto Casino ⚜️⚜️⚜️⚜️ - page 311. (Read 391229 times)

how could they do that and stay transparent and trustworthy

As a former online poker player I can guarantee that even a 50% pokerstars rake would be like dollar printing. But you would need a significant part of it for marketing to attract customers. Therefore I dont really like this idea of a 0% edge casino because you will need a lot of money for marketing. Lets see how it will work out but I think you will have to increase the house because of this. Which would still be not bad and cheaper for the customer than other online or bitcoin casinos.

milestone 2 is already reached justyou look at the dollars... they already mentioned that they have planned with 10$/ETH. Price is now 22$ so milestone 2 is already reached

For what? Thought you are just another bounty hunter but I maybe wrong. If theres possible advance release of Edgeless tokens the investors deserve priority.

Poker which we are going to offer is: house vs player. Game rules: russian/ lunar poker.

It's not a p2p platform like Poker stars. However in a future we have plans to launch poker platform too

at the moment. not available yet.
but it will be launch before end of ico. Stay tuned.

Woah! that would is a good move to make calculations at  8 - 10$ and now ETH price has more than doubled and we could see it even crossing $30 by the time the ICO ends. Very happy to know that this will help the team to reach the milestones faster than ever!

Rake-free? Impossible, poker is already 0 house edge game, casinos make money from rake. If they make rake-free, they spend money on server and coding, and make 0 money? Doesn't make any sense.

I think I read something about poker before, but can't find it in the OP. Are there any plants to implement rake-free (or at least very low rake) poker games in the future?

4 month ago once we published a whitepaper, all calculations were made at that time ETH price which was 8 - 10$.

Now ETH price is growing, therefore we will be able to deliver more in a shorter period of time. Which is good news

You can't really say, because most funds are raised in ICOs on the first day and on the last day. The team have shown commitment to the project by promising to release the beta platform before the ICO ends, this may draw more investors into the project

Similar question was asked on reddit: https://www.reddit.com/r/ethereum/comments/5v7yoe/whats_your_opinion_on_edgeless_crowdsale_funds/

Quote:

I totally understand your point, however Edgeless is not a decentralised organisation/ business. It's a casino start-up which uses decentralisation for a randomness generation and transparency. Because we believe that's a significant improvement for gambling experience. Using it, Edgeless can get a strong competitive advantage against traditional online casinos and become really profitable business unit.

Crowdsale method is chosen as a "capital raising" method for a start-up. In exchange for 40% of casino profits. An analogy can be taken from a traditional start-up which is looking for VCs. VCs fund a startup in exchange of shares. Start-up gets capital for further development, VCs expects to earn profit from shares it just bought. Founders are NOT really making money from VC funds. Founders expect to earn money in a future, once a start-up is well developed and scaled business.

In this particular situation, Edgeless team will not make money/ get rich from collecting crowd sale money. All capital will be used for a start-up development in a period of 1 - 2 years. However Edgeless founders expect to turn a casino into really profitable/ scalable business, so they can get paid having 60% profits of the start-up (isnt it fair? after spending several years working on it). Investors get 40% of profits for their early support. Investors expect to earn money because they believe this team and start-up has a lot of potential to disrupt a casino industry.

Using this "capitalistic" approach we can be sure that all parties involved have a strong financial/ value creation incentive to take action. In this case we can make sure that business unit will have fast decision making (because it has only 3 co-founders, not 4000 people voting on decisions) and strong financial incentive to be extremely good product. And that's why freedom + capitalism is so dominant, because it makes sure people have enough motivation to run long and complex project.

Casino DAO is nice idea, however we feel world is not ready yet. And here are several reasons:

- smart contracts are experimental and untested technology. From a DAO hack example we can see that smart contracts are still in a super early phase. It will take many years ahead once we can move to complex smart contract systems. Human error in a contract is simply inavoidable, therefore we need to start building something really simple as randomness generation and only THEN move to complex DAO and decentralised systems. People built calculators first and only THEN moved to artificial intelligence. Not the other way around.

- DAO governance model is still not tested. There is a high chance that it will not perform really good in a technological environment which requires fast decision making and clear direction. And requires founders which are willing to die for their start-up.

- Casino business is extremely sensitive/ dependent on marketing. No marketing means no people on casino and business is pretty much dead. Having 3000 decision makers who are voting on these decisions can harm a business unit really bad. It simply would not catch up with small start-ups which can make decisions really fast.

With Edgeless we aim to build a business unit which is tangible and applicable in today's world, therefore we do not want to OVERPROMISE too much for early investors.

Regarding dev. teams token share - dev. team's tokens will be frozen for a long time. It will not be in use. Also dev. team keeps tokens because it might be that, after 1 - 2 years, start-up needs more capital for further scaling. Therefore tokens will be used to get extra capital.

And one more important note: Edgeless ICO IS NOT GET QUICK RICH SCHEME for token speculators. We do not promise 100000% ROI. We are realistic, making sure that your investment is protected and value creation happens over time. Not in a day.

Also your calculations are wrong. It's not 70% of tokens. Secondly number of issues tokens are growing every day. Also team holds 10%, not 12%. 2% are for bounty participants.


try this one https://edgelessethcasino.signup.team/


we are still working hard on that, hoping to launch before an end of ICO

The bj is live already?

With Blackjack going live and already some life breathed into the ICO, what about any news of winners/whales/high rollers?

Anyone actually gambling at the site yet who wants to share a little bit of insight?

Need 110k ETH to reached milestone 2.
and 9 days left, whether it is possible to achieve it?

1.2 million USD is a large amount of money. even now we can say that they are quite successful.
It seems that is "Casino ICO" win-win situations.

yes but they really dont need it because of the skyrocking ETH price. They have already raised more than 1,2 million USD. This should be enough for M2

You are right, it may be difficult to get milestone 2 if the funding speed is so low like now. But I have strong confidence on edgeless, they will release BJ beta soon, it will raise more money.

the project is just amazing, but it will be very hard to get to milestone 2 at this point!

Easy, use a VPN or proxy, you don't need verify your ID, no KYC verification, so VPN is the best choice to bypass.